Starbucks Co. (NASDAQ:SBUX) Shares Bought by RNC Capital Management LLC

RNC Capital Management LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,306 shares of the coffee company’s stock after buying an additional 172 shares during the period. RNC Capital Management LLC’s holdings in Starbucks were worth $1,673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Nordea Investment Management AB grew its stake in shares of Starbucks by 124.2% in the 3rd quarter. Nordea Investment Management AB now owns 7,923,711 shares of the coffee company’s stock valued at $884,920,000 after purchasing an additional 4,390,109 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Starbucks by 150.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,375,236 shares of the coffee company’s stock valued at $482,632,000 after purchasing an additional 2,629,721 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Starbucks by 86.6% in the 3rd quarter. Wellington Management Group LLP now owns 5,239,631 shares of the coffee company’s stock valued at $577,984,000 after purchasing an additional 2,432,001 shares during the last quarter. Man Group plc grew its stake in shares of Starbucks by 180.5% in the 3rd quarter. Man Group plc now owns 1,639,175 shares of the coffee company’s stock valued at $180,817,000 after purchasing an additional 1,054,795 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Starbucks in the 3rd quarter valued at approximately $100,376,000. 69.74% of the stock is currently owned by institutional investors.

SBUX has been the topic of several analyst reports. Guggenheim lowered their target price on Starbucks from $95.00 to $87.00 in a research note on Wednesday, April 13th. JPMorgan Chase & Co. upgraded Starbucks from a “neutral” rating to an “overweight” rating and set a $101.00 price target on the stock in a research note on Wednesday, March 16th. Credit Suisse Group decreased their price target on Starbucks from $132.00 to $122.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 2nd. Jefferies Financial Group decreased their price target on Starbucks from $142.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 2nd. Finally, Oppenheimer cut Starbucks from an “outperform” rating to a “market perform” rating in a report on Friday, January 7th. Fifteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $110.28.

SBUX stock traded up $1.72 during trading on Tuesday, reaching $81.32. 223,264 shares of the stock traded hands, compared to its average volume of 10,202,629. The business’s 50 day moving average price is $88.07 and its 200-day moving average price is $101.79. Starbucks Co. has a 52-week low of $78.88 and a 52-week high of $126.32. The firm has a market capitalization of $93.54 billion, a PE ratio of 21.46, a P/E/G ratio of 1.98 and a beta of 0.90.

Starbucks (NASDAQ:SBUXGet Rating) last posted its quarterly earnings results on Tuesday, February 1st. The coffee company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.08). Starbucks had a net margin of 14.47% and a negative return on equity of 56.17%. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same period last year, the firm posted $0.61 EPS. Starbucks’s revenue was up 19.3% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post 3.31 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, May 12th. Starbucks’s payout ratio is 52.83%.

Starbucks Profile (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

See Also

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXGet Rating).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.